ITR without tax audit and 44AD

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22 Points Posted on 28 August 2021

1.turnover is 70 lakh and net profit is 12 lakh 

Can we offer income without tax audit and without 44ad if maintaining books of account...

2.turnover is 70 lakh turnover and net profit is 5 lakh ...can we offer income without tax audit and without 44AD if maintaining books of account

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On 28 August 2021 at 22:03 Report
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Chartered Accountant
16188 Points Posted on 29 August 2021
For first case profit is 12 lakh rupees and turnover 70 lakh rupees, the profit percent isvabove 8% in no tax audit is applicable and you can opt for 44AD but in the second is the profit is less than 8% so you cannot of aur 44ad and tax audit is applicable
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On 29 August 2021 at 07:50

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